Qualcomm Board Names Mark McLaughlin Chairman

PR Newswire - Tue Aug 13, 3:05PM CDT

Qualcomm Incorporated (NASDAQ:QCOM) today announced the appointment of Mark McLaughlin as its Chairman of the Board, effective August 13, 2019, replacing Jeff Henderson, who had served in that capacity since March 2018. Mr. Henderson, the former Chief Financial Officer of Cardinal Health, will remain on the Board and continue to chair its Audit Committee.

Mr. McLaughlin, the former Chairman and CEO of Palo Alto Networks, noted that, "Jeff assumed leadership of the Board during a period of unparalleled challenges, becoming our first independent Chairman and guiding the Board through the Company's efforts to resolve significant business issues. The Board is deeply appreciative of all that Jeff has done during this period of transition."

Mr. Henderson commented, "It was a great honor to lead the Board, particularly during this period. We are now seeing the dawn of a significant ramp in 5G enabled products and I felt that now seemed like the right time to pass on the baton. The Board will benefit greatly, in this phase of its development, by having a technology industry veteran like Mark as its lens into the Company's business, particularly 5G."

Steve Mollenkopf, the Company's CEO thanked "Jeff for his exemplary stewardship of the Board and his support of the Company's management team and said that he looked forward to working with Mark, in his new role and drawing on his deep experience in the technology industry."

About Qualcomm Qualcomm invents breakthrough technologies that transform how the world computes, connects and communicates. When we connected the phone to the Internet, the mobile revolution was born. Today, our inventions are the foundation for life-changing products, experiences, and industries. As we lead the world to 5G, we envision this next big change in cellular technology spurring a new era of intelligent, connected devices and enabling new opportunities in connected cars, remote delivery of health care services, and the IoT -- including smart cities, smart homes, and wearables. Qualcomm Incorporated includes our licensing business, QTL, and the vast majority of our patent portfolio. Qualcomm Technologies, Inc., a wholly-owned subsidiary of Qualcomm Incorporated, operates, along with its subsidiaries, substantially all of our engineering, research and development functions, and substantially all of our products and services businesses, including the QCT semiconductor business. For more information, visit Qualcomm's website, OnQ blog, Twitter and Facebook pages.

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